iClick Interactive (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, is reporting on its unaudited financial results for the six months ended June 30, 2023. According to the report, revenuefor the first half of 2023 was $67.1 million, compared with $85.5 million for the same period in 2022; gross profitfor the period totaled $16.8 million, compared with $25.3 million for the first half of 2022; total operating expensescame in at $40.7 million, compared with $52.3 million for the same period in 2022; and net loss totaled $28.6 million for the first half of 2023, compared with $55.1 million for the first half of 2022. In addition, Adjusted EBITDAfor the first half of 2023 was a loss of $21.1 million. Other notable items from the report include the company entering into a definitive agreement and plan of merger with TSH Investment Holding Limited and TSH Merger Sub Limited; the merger is currently expected to close in the Q1 2024, subject to customary closing conditions including an affirmative vote of shareholders. If the merger is completed, the company will become a privately held entity and its ADSs will no longer be listed on NASDAQ. “In the first half of 2023, we fulfilled the service needs from key customers with our continuous strategy on reducing low-margin, high-risk businesses within the Marketing Solutions segment with reasonable targets to curtail cost for operational efficiency and performance,” said iClick Interactive CEO and cofounder Jian “T.J.” Tang in the press release. “The company’s topline performance was affected by slow recovery of economic growth and customer demand after the pandemic. In the future, we will continue to maintain a balanced customer base and core products and services offering, and look forward to improvements on the macroeconomic environment.”
To view the full press release, visit https://ibn.fm/BfCIE
About iClick Interactive Asia Group Limited
iClick is a leading enterprise and marketing cloud platform in China. The company’s mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in 11 locations across Asia and Europe. For more information about the company, please visit www.iClick.com.
NOTE TO INVESTORS: The latest news and updates relating to ICLK are available in the company’s newsroom at http://ibn.fm/ICLK
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